Why Illumina (ILMN) Shares Are Trading Higher Premarket Today - Illumina (NASDAQ:ILMN)

The European Commission has prohibited Illumina Inc's ILMN acquisition of GRAIL.
The company is reviewing the Commission's order and intends to appeal the decision.
The company said the "merger of Illumina and GRAIL would usher in a transformational phase in the detection and treatment of cancer by facilitating equal and affordable access to the life-saving early cancer detection Galleri test."
The EC decision follows last week's U.S. Federal Trade Commission judge ruling in favor of Illumina's acquisition of GRAIL.
Reuters reported that Illumina is in talks with European Union antitrust regulators to divest Grail ahead of an expected EU veto next week of its $8 billion acquisition.
Illumina completed its takeover of Grail in August last year without waiting for the EU green light.
The Commission is scheduled to decide on the takeover by Sept. 12.
The report mentioned that Illumina had offered royalty-free global licenses for some patents to rivals and a three-year patent truce with Chinese rival BGI in Europe to address EU antitrust worries.
Price Action: ILMN shares are up 4.04% at $204.00 during the premarket session on the last check Tuesday.

European Commission Says No To Illumina-Grail Deal - What's Next?